More than half of homeowners and renters will partly base their choice for President on housing affordability.
That’s according to a new survey commissioned by Redfin and conducted by Qualtrics last month. The survey found that 53.2% of respondents will be informed by housing in November’s presidential election.
On top of that, 64.2% of homeowners and renters said the state of housing makes them feel negative about the economy.
“Housing affordability is top of mind for voters because elevated mortgage rates and home prices, along with an acute housing shortage, have pushed the dream of homeownership out of reach for many Americans,” said Redfin Chief Economist Daryl Fairweather.
Analysts say the economy is actually doing well by many metrics, but…
By KIMBERLEY HAAS
Home affordability is expected to be a pressing issue for American families again this year and although it is not a top priority for Republican presidential candidates yet, they are talking about it.
At a rally last month in Durham, New Hampshire, former President Donald Trump said mortgages have become unattainable to the average person and promised to go after banks if he wins back the White House.
“After three years of Bidenomics, they call it Bidenomics, from hell, the average monthly mortgage payment has gone from $1,746 under my administration to $3,322 today, but you can’t get the money, so it doesn’t matter,” Trump told the crowd.
Trump claimed that “Biden’s handlers are making the banks…
By KIMBERLEY HAAS
With just weeks left before the Iowa caucus and the presidential primary in New Hampshire, home affordability is weighing on the minds of voters and at least one leading economist says the issue could take center stage as the race for the White House heats up.
Daryl Fairweather, chief economist for Redfin, has said that President Joe Biden will be forced to make home affordability a cornerstone of his reelection bid.
“Even though the overall economy is strong, high housing costs are making many Americans feel poor,” Fairweather said in her recent release on housing predictions for 2024.
“Home prices are up more than 20% since President Biden took office. That’s a problem for his re-election bid:…
As the country approaches D-Day for defaulting on its debts, analysts are breaking down the impact of such a scenario on the economy.
The Treasury Department said in January that the U.S. was close to its $31.4 trillion borrowing limit. As a result, it announced “extraordinary measures” to keep the government’s funding above water through spring.
Treasury Secretary Janet Yellen and other experts are now saying the U.S. could default on its debt as early as June in a worst-case scenario.
Dramatic as the news may be, it’s highly unlikely that Congress would actually allow a breach of the debt ceiling.
“While we have a highly polarized Congress negotiating, it isn’t in either party’s interest to let a default happen,”…
By KIMBERLEY HAAS A new proposed rule meeting President Joe Biden’s call to fully enforce the Fair Housing Act was announced by officials at the U.S. Department of Housing and Urban Development on Thursday. “Affirmatively furthering fair housing means more than merely steering clear of housing discrimination violations,” Demetria McCain, principal deputy assistant secretary for fair housing and equal opportunity, said in a statement. “Today, HUD is taking new, bold action to eliminate the historic patterns of segregation that continue to harm American families. This action will help make the purpose of the Fair Housing Act reality by making it easier for local communities to identify inequities and make concrete commitments to address them.” According to a press release, the rule…
